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Tuesday 4th March 2008
A national service for people to share their money worries with experts has been recommended by the chief executive of insurer Aegon UK, Otto Thoresen.
Mr Thoresen was hired by the treasury to conduct an investigation into the creation of the new body - and reported his findings yesterday.
Support for the service was found by a poll conducted for the report - with 75 per cent saying that they would use it for money advice.
Mr Thoresen added: "My report sets out how a national money guidance service could transform people's lives as well as bringing substantial benefits to the industry and government."
"I believe that good money sense needs to be as much part of people's lives in the 21st century as healthy eating and keeping fit."
Research released by the Co-operative Bank this week laid bare the need for improved financial advice in the UK.
The bank's study revealed that Britons spend a total of 13 billion hours per year worrying about their debts.
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